Latest news with #WLAOs
India.com
6 days ago
- Business
- India.com
Rs 500 Notes To Be Phased Out By 2026? Viral Claim Sparks Panic – Here's The Truth
New Delhi: A viral message on WhatsApp has sparked panic across the country. The message claims that Rs 500 notes will be phased out by March 2026. However, the Press Information Bureau (PIB) has clarified that this claim is completely false. The RBI has not issued any such directive and the Rs 500 note continues to be valid for transactions. The viral WhatsApp message that's causing confusion reads: "RBI has asked all banks to stop disbursing 500 notes by 30 Sept 2025 from ATM. Target is 75% of all BANKS ATM & then 90% ATM by 31 Mar 2026. ATM going forward will disburse only 200 and 100 notes only. So start liquidating the Rs 500 notes that you have in hand from now on." This misleading message created panic among people, prompting many to rush and exchange their Rs 500 notes out of fear. No, Rs 500 Notes Are Not Being Banned: PIB Fact Check Amid rising confusion over a viral WhatsApp message, PIB Fact Check stepped in to clarify the truth. Posting on X (formerly Twitter), it said: 'Has RBI really asked banks to stop disbursing Rs 500 notes from ATMs by September 2025? No such instruction has been issued by the RBI. Rs 500 notes will continue to be legal tender. Do not fall for such misinformation. Always verify news from official sources.' The RBI has not released any circular or announcement supporting the claim, and Rs 500 notes remain completely valid for use across the country. Has RBI really asked banks to stop disbursing ₹500 notes from ATMs by September 2025? A message falsely claiming exactly this is spreading on #WhatsApp #PIBFactCheck No such instruction has been issued by the @RBI. ₹500 notes will continue to be legal tender. … — PIB Fact Check (@PIBFactCheck) July 12, 2025 The confusion may have stemmed from a genuine RBI circular issued in April, which simply asked banks and White Label ATM Operators (WLAOs) to ensure better availability of smaller denomination notes like Rs 100 and Rs 200 in ATMs.
NDTV
6 days ago
- Business
- NDTV
RBI To Phase Out Rs 500 Notes By 2026? Here Is A Fact Check
A viral WhatsApp message, claiming that the Reserve Bank of India (RBI) is preparing to discontinue the circulation of Rs 500 notes by March 2026, has confused the public. The claim has now been officially debunked as false and misleading. The message, which has been "forwarded many times," alleges that the RBI has instructed all banks to gradually stop dispensing Rs 500 notes from ATMs, 75 per cent of ATMs by September 30, and 90 per cent by March 31, 2026. It urges people to "start liquidating" their Rs 500 notes in advance. Here's what the viral message says, "RBI has asked all banks to stop disbursing 500 notes by 30 Sept 2025 from ATM. Target is 75% of all BANKS ATM & then 90% ATM by 31 Mar 2026. ATM going forward will disburse only 200 and 100 notes only. So start liquidating the Rs 500 notes that you have in hand from now on." The Press Information Bureau's Fact Check unit has called out the message as completely untrue. Posting on X, PIB Fact Check clarified that the RBI has issued no such directive and that Rs 500 notes remain legal tender. "Has RBI really asked banks to stop disbursing Rs 500 notes from ATMs by September 2025? A message falsely claiming exactly this is spreading on WhatsApp. PIB Fact Check: No such instruction has been issued by the @RBI. Rs 500 notes will continue to be legal tender." The PIB instructs to not "fall for such misinformation." "Always verify news from official sources before believing or sharing it," they warned. As of now, there is no official statement or circular from the RBI suggesting any change in the status or circulation of Rs 500 currency notes. The note continues to be accepted for all transactions across the country. Has RBI really asked banks to stop disbursing ₹500 notes from ATMs by September 2025? ???? A message falsely claiming exactly this is spreading on #WhatsApp #PIBFactCheck ✅ No such instruction has been issued by the @RBI. ✅ ₹500 notes will continue to be legal tender. ????… — PIB Fact Check (@PIBFactCheck) July 12, 2025 This speculation may have been triggered by a genuine RBI circular issued in April, which directed banks and White Label ATM Operators (WLAOs) to increase the availability of smaller denomination notes, specifically Rs 100 and Rs 200, through ATMs.
Time of India
07-06-2025
- Business
- Time of India
Rs 500 notes to be discontinued? PIB calls viral claim fake; YouTube video behind panic
PTI file photo The central government has dismissed claims that Rs 500 currency notes will be phased out by March 2026. On Tuesday, the Press Information Bureau (PIB) issued a fact check on social media, clarifying that the viral news was fake. It confirmed that Rs 500 notes continue to be legal tender and advised people not to fall for such misinformation. Citizens were also urged to verify any such claims through official sources before believing or sharing them. The clarification came after a YouTube channel named CAPITAL TV claimed that the government was planning to discontinue the Rs 500 note by 2026. The video led to confusion and panic among public. The speculation may have intensified after the Reserve Bank of India ( RBI ) issued a circular in April 2025, according to the economic times. The circular asked banks and White Label ATM Operators (WLAOs) to increase the availability of Rs 100 and Rs 200 notes in ATMs. The Press Information Bureau has been actively working to counter misinformation related to government. In November 2019, it set up a dedicated Fact Check Unit (FCU) to address the growing spread of fake news. Citizens can report suspicious claims through WhatsApp, email, or the official web portal.
Time of India
05-06-2025
- Business
- Time of India
Are Rs 500 currency notes going to be phased out by 2026? Here's what government has said
What is the rumor regarding the Rs 500 currency note? Is the government planning to phase out the Rs 500 currency note by 2026? — PIBFactCheck (@PIBFactCheck) Live Events RBI voice call fraud The public is confused by a widely shared video on YouTube that claims the Reserve Bank of India (RBI) intends to discontinue issuing Rs 500 notes by March 2026. A YouTube channel named Capital TV channel (capitaltvind) posted a video regarding this, which immediately went viral and made many wonder if the Rs 500 note is being phased out or video claims that the RBI is working on a phased withdrawal of Rs 500 currency notes, with the process supposedly set to be completed by March to PIB Fact Check, the RBI has not made any announcement about phasing out Rs 500 currency notes. These notes remain legal tender and are still being issued and accepted across the country. The video is misleading and not backed by any official statement or RBI this speculation may have been fueled by a recent RBI circular issued in April 2025, which directed banks and White Label ATM Operators (WLAOs) to increase the circulation of Rs 100 and Rs 200 denomination notes through RBI in April 2025 asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to increase the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner."As part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators (WLAOs) shall ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis," the Reserve Bank of India (RBI) said in a circular further states, 'By September 30, 2025: 75% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette. By March 31, 2026: 90% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette'.The move, however, is not related to the withdrawal of Rs 500 notes. It's simply meant to improve the public's access to smaller denomination notes, which are more commonly used for day-to-day another fact check, the Fact Check Unit of the Press Information Bureau (PIB) alerted on a fraudulent voicemail scam impersonating the Reserve Bank of India (RBI). These voicemails falsely claim that your bank account will be blocked due to alleged credit card fraud, urging recipients to press a number for more details. The warning is clear: this is a scam designed to steal your personal information.
The Print
29-04-2025
- Business
- The Print
RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes
Mumbai, Apr 28 (PTI) The Reserve Bank of India on Monday asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to enhance the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner.
